VanEck Agribusiness ETF (NYSEARCA:MOO) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

VanEck Agribusiness ETF (NYSEARCA:MOO) passed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $83.95 and traded as low as $80.70. VanEck Agribusiness ETF shares last traded at $82.24, with a volume of 112,934 shares traded.

VanEck Agribusiness ETF Stock Down 1.4%

The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 19.69 and a beta of 0.72. The stock has a fifty day moving average of $83.92 and a 200-day moving average of $82.32.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in VanEck Agribusiness ETF by 2.8% in the first quarter. Bank of America Corp DE now owns 221,975 shares of the company’s stock valued at $18,757,000 after acquiring an additional 6,004 shares in the last quarter. Retirement Financial Solutions LLC acquired a new stake in shares of VanEck Agribusiness ETF during the first quarter worth about $11,613,000. Royal Bank of Canada lifted its holdings in shares of VanEck Agribusiness ETF by 429.2% in the 1st quarter. Royal Bank of Canada now owns 83,855 shares of the company’s stock valued at $7,086,000 after purchasing an additional 68,010 shares during the last quarter. Keudell Morrison Wealth Management purchased a new stake in shares of VanEck Agribusiness ETF in the 1st quarter valued at about $5,835,000. Finally, Mandatum Life Insurance Co Ltd boosted its position in shares of VanEck Agribusiness ETF by 5.0% in the 1st quarter. Mandatum Life Insurance Co Ltd now owns 63,377 shares of the company’s stock valued at $5,355,000 after purchasing an additional 3,025 shares during the period.

VanEck Agribusiness ETF Company Profile

Market Vectors Agribusiness ETF (the Fund) replicates as closely as possible the price and yield performance of the DAXglobal Agribusiness Index (DXAG). DXAG, calculated by Deutsche Borse AG, is a modified market capitalization-weighted index consisting of publicly traded companies engaged in the agriculture business that are traded on global exchanges. DXAG provides exposure to companies worldwide that derive at least 50% of their revenues from agriculture business. Companies eligible for inclusion in DXAG should have market capitalization exceeding $150 million; should have worldwide daily average trading volume of at least $1 million over past six months and in each of the past two months, and should have maintained monthly trading volume of 250,000 shares over past six months.